5 ways small businesses can save money
Maximise your profits: Practical tips for cost-efficiency in small businesses.
At Clear Business, we know that every penny counts for small businesses. To run a successful operation, it’s paramount that you keep track of your finances so you can recognise where you’re overspending or using non-essential services that dent your profits.
Based on our experience of servicing small businesses like yours, we’ve compiled five ways any small business can save money:
It sounds obvious, but switching off lights and electrical equipment at the back of each working day can save you considerable money in the long run. Studies have shown that if office lights are left on overnight, over the course of a year, enough energy is wasted to heat a home for five months.
Another way to ensure you keep energy usage to a minimum is to activate ‘sleep mode’ through your computer settings, with even a ten-minute screen delay able to save serious energy.
Sleep mode only consumes a few watts, unlike screensavers, which consume almost the same amount of energy as your computer monitor in active use.
Switching energy suppliers is one of the main ways to save money on household bills, and the same applies to business premises.
Many small businesses have had to cut back on their spending in the last 18 months, so reviewing your utility bills could be an excellent way to claw some of that money back.
If your business has never compared or switched before, the likelihood is that you’ll be on a more expensive energy tariff.
If you need help with switching your energy and utilities, then get in touch here.
Taking steps to make your business greener can also benefit you financially. For example, keeping the office lights switched off during the day and using only natural lighting instead will slash your energy bills while helping the planet.
Moreover, natural lighting not only saves money but also boosts office productivity. It is proven that natural lighting can positively impact your mood, meaning staff morale can benefit as much as the environment.
Social media continues to be the fastest-growing form of communication in the business world. If you're looking to save cash, investing in an external marketing agency might feel a tad frivolous, so use whatever free tools you have at your disposal.
It's reported that around 44% of people use social media to research businesses and products and are more inclined to purchase from a company with a solid social media presence.
Much like your gas and electricity bill, it's possible that you aren't getting the most for your money when it comes to your card terminals.
Clear Business is passionate about cutting the costs of card payments and providing support for small and medium businesses. Our team promises faster payments and flexible agreements for you to get the most from your card payment services, offering free legal help and business cash advances.
Investing time researching ways money can be saved is one of the most worthwhile investments a small business can make. Often, it is the most obvious initiatives and behaviours that can yield the most compelling results. However, these are also the initiatives and behaviours that can be neglected.
Clear Business is committed to helping small businesses like yours keep as much of the money they earn in their bank accounts as possible. Speak to a team member today to find out how we can save you money while giving you access to exceptional products and services, or find out more here.